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Netflix, Sony Pictures, Paramount Skydance, private-equity giant TPG and Reddit co-creator Alexis Ohanian are among those rumored to have held early talks to potentially buy the popular film-review social network Letterboxd.
Puck News broke the report and follows on from a report in April indicating that Versant Media had held talks about buying Letterboxd.
Founded in 2011, Letterboxd has amassed more than 30 million members globally in the past fifteen years – surging during the pandemic and more recently adding a whopping 10 million in the past year.
The app and website, based in New Zealand, has been shopping itself to interested parties in recent months.
The company is majority-owned (60%) by Canadian holding company Tiny, with the remaining 40% owned by co-founders Matthew Buchanan and Karl von Randow.
The Letterboxd sales process is reportedly being handled by investment and merchant bank LionTree, which has reportedly floated a quite high $250 million valuation.
Source: Variety
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